10 Ways SMBs Can Engage Customers in a Tight Economy

Daily Mentions returns from it's break today.  Thanks for stopping by.

Yesterday, Bloomberg reported that more than one million self-employed Americans decided to shut the doors to their businesses due to the recession.  According to Kristin Arslen, president and chief executive officer of the Washington, D.C.-based National Association for the Self-Employed, diminishing opportunities and few customers are behind the failure of so many small businesses.  Despite the promises made by politicians, few are able to simply wait for the eventual economic turnaround.

However, according to Arlen, some small businesses are actually thriving in this anemic economy.  These are businesses that have been awarded state and federal contracts, or are in the healthcare or technology sectors.  Good for them.  But what about the majority of small businesses that don't get

government contracts or are in healthcare or technology?  For the majority of small businesses, only a fairy godmother or creative marketing is going to help them through the recession.

Here are 10 suggestions for attracting customers and getting sales :

1.  Treat your existing customers like royalty.  Give them the royal treatment with exclusives, start a loyalty program, send them special discounts offers for their birthdays or for simply being a loyal customer.

2.  Diversify your marketing efforts.  You can't be all social or all traditional.  Use it all or as much as you can, including word of mouth.  And ask customers to tell their family and friends about you.  Remember you can also buy ads on the cheap with lots of  targeting opportunities on Facebook, Google and other websites.  Did I mention direct mail, newsletters and email marketing?

3.  Track, track, track.  Regardless of the economy, you should already be tracking your marketing and advertising investments.  But now it's time to kick you tracking efforts into high gear.  You need to know what's working and what's not so that adjustments can be made.

4.  Expand buying options.  If you're not currently offering online shopping, it's time to start.  There numerous companies that not only will help you set up your website, but will also do the fulfillment.  Just be sure to do your research.  Some companies will want a percentage of your sales, others will require a flat rate--and even here, these rates vary. 

5.  Raise your profile.  Are you active in your community?  Offer your services (within reason of course) to a local charity, church or seniors group.  Sponsor or co-sponsor a little league team.  And don't forget to splash your logo or name where applicable.

6.  Write about what you know.  Pay attention to the news and if an issue arises that even remotely connects to your business or community, send a letter to the editor.  Don't be controversial, but express your point of view.  For example, if the issue is the high cost of gasoline, and you own a tire shop, write a letter about fuel efficiency, and how having good tires with proper inflation helps to save gas.  Include Owner, Acme Tires after your signature.

7.  Embrace technology.  Invest in a small digital camera and make and post short videos.  Invite comments and offer discounts to one or two commenter's each day.  For example, if you are in the beauty industry, you can video a daily tip (that may or may not have anything to do with your product), do a quick interview with a customer or another expert.  Remember, people like useful information, so not only will you build good will, but your efforts can translate into customers.

8.  Promote your value.  Be sure to communicate your product's/service's value in your marketing and advertising.  Buying decisions are rooted more in value, not price.  Which means people will buy if they perceive the value of  what you're offering to be greater than the value of their money.  Resist the temptation to slash prices in an effort to attract customers.

9.  Street Teams.  Check out companies that offer the services of street teams.  But don't be satisfied with them just handing out your menu or a flier, get creative.  You can do this totally grassroots, just remember, you need reliable, friendly people who get what you're trying to do.  Don't forget the tee shirts with your business name if you're doing this all yourself.

10.  If you have a niche, let it be known.  I watched a local pizza company get some very good tv exposure.  The small company is environmentally conscious.  A local tv station picked up the story, sent out a crew and did a nicely produced piece on them.  What are you doing that would attract the media? 

For more information on several of the above items, including the last one, look through the archives on this blog.

Help grow this blog.  Subscribe to Daily Mentions, comment and tell a friend.